ERNZ vs. PSP ETF Comparison

Comparison of TrueShares Active Yield ETF (ERNZ) to PowerShares Listed Private Equity (PSP)

ERNZ

TrueShares Active Yield ETF

ERNZ Description

The fund is an actively-managed ETF that seeks to deliver above-average yield relative to the broader market by purchasing a portfolio of 50 to 150 income generating securities. In pursuing its investment objective the fund also employs a secondary focus on capital preservation and the opportunity for long term growth of capital by seeking lower relative volatility compared to the broader market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$25.03

Average Daily Volume

11,875

Number of Holdings ^*

168

* may have additional holdings in another (foreign) market

PSP

PowerShares Listed Private Equity

PSP Description

The PowerShares Global Listed Private Equity Portfolio (Fund) is based on the Red Rocks Global Listed Private Equity Index (Index). The Fund will normally invest at least 90% of its total assets in securities, which may include American depository receipts and global depository receipts, that comprise the Index. The Index includes securities, ADRs and GDRs of 40 to 75 private equity companies, including business development companies (BDCs), master limited partnerships (MLPs) and other vehicles whose principal business is to invest in, lend capital to or provide services to privately held companies (collectively, listed private equity companies). The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$70.93

Average Daily Volume

17,166

Number of Holdings ^*

26

* may have additional holdings in another (foreign) market

Performance

Period	ERNZ	PSP
30 Days	1.89%	5.04%
60 Days	0.06%	4.30%
90 Days	1.25%	9.07%
12 Months		39.67%

8 Overlapping Holdings

	Symbol	Grade	Weight in ERNZ	Weight in PSP	Overlap
	ARCC	A	0.16%	3.12%	0.16%
	FSK	A	3.48%	0.97%	0.97%
	GBDC	C	2.98%	0.72%	0.72%
	GSBD	F	0.36%	0.21%	0.21%
	HTGC	D	1.11%	0.47%	0.47%
	MAIN	A	0.08%	0.49%	0.08%
	NMFC	D	0.21%	0.22%	0.21%
	TSLX	C	2.89%	0.22%	0.22%

ERNZ Overweight 160 Positions Relative to PSP

	Symbol	Grade	Weight
	CLM	A	3.79%
	TCPC	C	3.51%
	OXLC	C	3.31%
	INSW	F	3.07%
	BCC	B	3.05%
	CRF	B	2.98%
	WSO	A	2.69%
	QYLD	B	2.44%
	KRP	B	2.27%
	KR	B	1.7%
	NEP	F	1.54%
	GOF	A	1.51%
	ABR	C	1.36%
	DHT	F	1.34%
	CTRA	B	1.26%
	NAT	F	1.16%
	PSEC	D	1.16%
	MUR	D	1.13%
	CAH	B	1.12%
	ABBV	D	1.08%
	FDUS	A	1.05%
	HRZN	F	1.03%
	SHV	A	1.01%
	AVGO	D	1.0%
	GNL	F	1.0%
	BKLN	A	0.97%
	RC	D	0.93%
	CWH	B	0.91%
	FANG	D	0.91%
	GILD	C	0.9%
	DKS	C	0.87%
	CLX	B	0.87%
	XMHQ	B	0.86%
	AOD	D	0.78%
	SPTN	D	0.77%
	TRGP	B	0.76%
	TFLO	B	0.74%
	ARES	A	0.73%
	ECC	D	0.73%
	AGNC	D	0.73%
	DX	B	0.71%
	ACP	C	0.61%
	USFR	A	0.54%
	LRCX	F	0.51%
	DAC	B	0.51%
	FRO	F	0.46%
	GBIL	B	0.44%
	VIRT	B	0.42%
	PDI	C	0.4%
	GFF	A	0.39%
	BIL	A	0.39%
	CCOI	B	0.39%
	OVV	B	0.37%
	DDS	B	0.32%
	STLD	B	0.31%
	FCT	A	0.3%
	COST	B	0.29%
	SBR	B	0.27%
	STNG	F	0.26%
	GNK	D	0.26%
	CNA	B	0.26%
	PMT	D	0.25%
	KREF	D	0.24%
	ARCH	B	0.24%
	LVHI	B	0.24%
	NEAR	C	0.23%
	PULS	A	0.22%
	RA	B	0.21%
	BTI	B	0.21%
	BAH	F	0.2%
	BIZD	B	0.2%
	UNIT	B	0.2%
	SCHO	C	0.2%
	MPC	D	0.19%
	WINA	B	0.18%
	FLBL	A	0.18%
	APAM	B	0.18%
	CWEN	C	0.18%
	SAH	A	0.18%
	BXMT	C	0.18%
	SRLN	A	0.18%
	ALB	C	0.17%
	COKE	C	0.17%
	BRSP	B	0.17%
	RAVI	A	0.17%
	GOGL	F	0.16%
	PAG	B	0.16%
	VNLA	A	0.16%
	DVN	F	0.15%
	LYTS	B	0.15%
	BGS	F	0.15%
	VRIG	A	0.15%
	ETD	C	0.15%
	ICSH	A	0.15%
	FLTR	A	0.15%
	ROL	B	0.15%
	GIS	D	0.15%
	MINT	A	0.14%
	TSCO	D	0.14%
	FLRN	A	0.13%
	FTSL	B	0.13%
	NEM	D	0.13%
	HYGV	A	0.12%
	PBI	B	0.12%
	MPW	F	0.12%
	JCPB	C	0.12%
	MO	A	0.12%
	OHI	C	0.12%
	GOVT	D	0.12%
	GFI	D	0.11%
	CIVI	D	0.11%
	HLI	B	0.11%
	CVI	F	0.11%
	USDU	A	0.11%
	JMST	B	0.11%
	FTSM	B	0.11%
	SHY	D	0.11%
	IPAR	B	0.11%
	HRB	D	0.11%
	AMRK	F	0.11%
	HSY	F	0.1%
	FHI	A	0.1%
	VGLT	F	0.1%
	SQM	F	0.1%
	PNNT	B	0.1%
	RYLD	A	0.1%
	PCAR	B	0.1%
	DEA	D	0.1%
	UVV	B	0.09%
	UTG	A	0.09%
	EDV	F	0.09%
	WMK	C	0.09%
	KMB	D	0.09%
	FLOT	A	0.09%
	ZROZ	F	0.09%
	JPST	A	0.09%
	XYLD	A	0.09%
	AGZD	A	0.08%
	KOF	F	0.08%
	K	A	0.08%
	LGOV	F	0.08%
	OLN	D	0.08%
	SJNK	A	0.08%
	ASC	F	0.08%
	PFE	D	0.08%
	LADR	B	0.08%
	CPB	D	0.08%
	PEP	F	0.08%
	PTEN	C	0.08%
	JMBS	C	0.07%
	AGZ	C	0.07%
	IIPR	D	0.07%
	NGG	D	0.07%
	CL	D	0.07%
	RDY	F	0.06%
	USA	A	0.06%
	PG	A	0.06%
	ARI	C	0.05%
	PFLT	D	0.04%
	IEF	F	0.04%

ERNZ Underweight 18 Positions Relative to PSP

	Symbol	Grade	Weight
	TPG	A	-5.77%
	BX	A	-5.75%
	KKR	A	-5.61%
	CG	A	-4.65%
	OWL	A	-3.85%
	HLNE	B	-3.01%
	STEP	B	-2.55%
	GHC	C	-1.45%
	BBUC	B	-1.19%
	IAC	D	-1.07%
	CODI	B	-0.77%
	BXSL	A	-0.71%
	PX	A	-0.55%
	CNNE	B	-0.49%
	SLRC	A	-0.24%
	BCSF	C	-0.23%
	BBDC	A	-0.23%
	CSWC	D	-0.21%

ERNZ: Top Represented Industries & Keywords

Industries: Asset Management Shipping & Ports Oil & Gas E&P REIT - Diversified Household & Personal Products Packaged Foods Beverages - Soft Drinks Capital Markets Drug Manufacturers - Major Specialty Retail Tobacco Auto & Truck Dealerships Business Services Gold Grocery Stores Oil & Gas Drilling Oil & Gas Refining & Marketing REIT - Healthcare Facilities REIT - Industrial REIT - Office

Keywords: Exchange Traded Fund ETF S&P 500 Bond Private Equity Structured Finance Real Estate Investment Trust Bond Market Loan U.S. Treasury Business Development Mezzanine Capital Mortgage Backed Security Mortgage Loan Bloomberg Barclays Us Aggregate Bond Index Index Fund U.S. Government Crude Oil Debt Securities Debt

PSP: Top Represented Industries & Keywords

Industries: Asset Management Credit Services Conglomerates Education & Training Services Internet Content & Information Specialty Finance

Keywords: Private Equity Business Development Venture Capital Mezzanine Capital Chemical Consumer Products Healthcare Service Wilshire Associates Aerospace Business Development Company Credit Golub Capital Investment Solutions Leveraged Buyout Loan Refinancing Beverage Blackstone Broadcasting Cable TV